EBRD invests $10bln in Egypt’s clean energy sector

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The total investments injected by the European Bank for Reconstruction and Development (EBRD) into the Egyptian clean energy sector, including green hydrogen and sustainable transport projects, amounted to around $10 billion, according to an official statement on November 13th.

During a meeting with the President of EBRD Odile Renaud-Basso, Minister of Finance Mohamed Maait said that Egypt was keen on creating serious initiatives to secure concessional and sustainable financing for emerging markets to help them cope with climate changes.

Maait commended the role played by EBRD to support Egypt’s energy sector.

Meanwhile, Renaud-Basso stressed EBRD’s willingness to secure appropriate financing with eased concessions for developing and African countries to aid their efforts in tackling climate challenges.